Monday, March 11, 2013

Bend, Oregon Property Tax Increase Affecting All Property Owners In Deschutes County


Well, you can most likely expect an increase in your property taxes this fall.
This increase stems from the voter-approved change to Oregon’s Constitution, Measure 50, which passed In May 1997. Measure 50 limited taxing districts to a specific rate instead of a varying levy. Back in 1997 a constant appreciation in property values was anticipated by the authors of this measure, but the housing bust in 2008 proved them wrong  and Deschutes County property taxpayers will now start to see affects of this. 


Every property account will be different. Some will be impacted, others may not. This will depend on the taxable value of the home. This value is determined by either the real market value or RMV value which fluctuates with the market, or the maximum assessed value or AV value which increases by a slower – more predictable rate, whichever of these two is the lowest. For the first time in years, as the real market value of many homes will exceed the maximum assessed value, many property owners will see an increase in their tax bill. 

As this problem is not yet state wide, and not equal among individuals & properties, it may be a difficult problem for the Oregon Senate Finance Committee to find a solution for it. For more information visit the Deschutes County Assessor’s Office.  We have posted there website here:
I hope you've found this information helpful and if you have any questions about the Central Oregon Real Estate Market or if we can help you with your next purchase or sale,please call us or shoot us an email to the numbers posted here.
Thanks again and have a great day!
Jim Birtola
Designated Broker & Owner
Birtola Garmyn High Desert Realty
www.BendOregonRealEstate.com
541-312-9449
Serving all of Bend, Redmond, Sisters, Sunriver, La Pine and all of Central Oregon with Integrity - Honesty - Sophistication 
Experience Isn't Expensive It's Priceless! 
We SOLD over $1 Billion Of Central Oregon Real Estate Since 2001

Friday, February 15, 2013

Mortgage Forgiveness Debt Act for Bend Oregon

Mortgage Forgiveness Debt Act for Bend Oregon on 
Bend Oregon Real Estate Tidbits




Yes, the final act by the 112th Congress to avoid the fiscal cliff was a significant victory for homeowners!  As part of the legislation that cleared the US House of Representatives, Congress extended the cancellation of the mortgage debt relief provision for one year, through the end of 2013!

So what exactly does this mean for homeowners??  If a lender forgives some portion of a homeowner’s mortgage in 2013, either as part of a Pre-Foreclosure/Short Sale or Foreclosure, or in a loan restructuring that reduces principal, the Owner/Seller WILL NOT be required to count that forgiven amount as income tax purposes!

This is HUGE and very important because now:

 (1) Homeowners won’t be forced to pay a tax on money they have already lost with cash they never received … and will never receive.

 (2) There are more than 20% of current homeowners with a mortgage in a distressed financial situation owning more on their homes than the current market value that would have been directly affected.

 
(3) The housing market, while recovering slowly, is still fragile enough that this tax relief is necessary to provide a much needed stability in the coming year.

Serving all of Bend, Redmond, Sisters, Sunriver, La Pine and all of Central Oregon with Integrity - Honesty - Sophistication.  Experience Isn't Expensive It's Priceless!

Birtola Garmyn High Desert Realty
Your Real Estate Consultants
Jim Birtola & Ruben Garmyn
541-312-9449
www.BendOregonRealEstate.com
We SOLD over $1 Billion Of Central Oregon Real Estate Since 2001


Wednesday, January 23, 2013

Questions on Bend's Real Estate Market for February

Bend Oregon Real Estate Tidbits: 
February Questions on Bend Oregon Real Estate





Join Jim Birtola and Valarie Rinker as they answer questions our viewers sent in!

1. I am looking for my first home. My price range is between 100K- 150K. Every time I go to put in an offer I get beat out by an investor. What can I do to help me get a home with so few homes in my price range?

2. I have had my piece of land on the market now for over a year and it still has not sold. What can I do to make it sell?!?!

3. Are resort homes or second homes a good idea right now, and what about renting them through VRBO.com or a vacation rental company?

Serving all of Bend, Redmond, Sisters, Sunriver, La Pine and all of Central Oregon with Integrity - Honesty - Sophistication. Experience Isn't Expensive It's Priceless!

Birtola Garmyn High Desert Realty
Your Real Estate Consultants
Jim Birtola & Ruben Garmyn
541-312-9449
www.BendOregonRealEstate.com
We SOLD over $1 Billion Of Central Oregon Real Estate Since 2001

Tuesday, January 15, 2013

January Questions on the Bend Oregon Real Estate Market

Starting the Year off right by answering your questions! 


Bend Oregon Real Estate Tidbits | January Questions on the Bend Oregon Real Estate Market




Join Jim and Valarie as they go over a few of the questions that you have asked us.
They start off with talking about the East and West sides of Bend and why you may be attracted to one side over the other. For instance the west side has the Old Mill District with the Deschutes river running through it. As where the east side has close access to St. Charles Hospital and larger lot sizes. If you want to see some of the options check out the Map search at BendOregonRealEstate.com

The second question they go over is about selling your home. If you are trying to decide when you want to put your house up on the market Jim Birtola goes into the pros and cons of listing in the Winter vs. the Summer.  You need to know what your selling goals are, this will help determine when you should list. Plus as a bonus you can go to http://www.zippyhomevalue.com/ and without ever having to talk to an agent you can find out your homes current approximate value.

The third and final question of the day is on taxes. If you are looking to move in from out of state you may have a few questions about how our tax system works. Although we are not tax pros we do understand how it works with your property. Always remember that when you have questions about property taxes your Real Estate agent can put you in touch with a tax accountant to help you make the best financial decisions.

Thanks for reading and remember that when you are looking for the best in Real Estate look to Birtola Garmyn Real Estate Consultants.


Jim Birtola & Ruben Garmyn

Birtola Garmyn High Desert Realty
541-312-9449
101. N.E. Greenwood Ave.
Bend, OR 97701

Wednesday, November 21, 2012

Happy Thanksgiving!



HAPPY THANKSGIVING!!

Hey Central Oregon! My name is Valarie and I’m a client care manager here at Team Birtola Garmyn, wishing you a Happy Thanksgiving from all of us. I’d also like to take this time to let you know how much you mean to us and thank you for another great year. We’ve already sold over 430 home and still have another 6 weeks to go. It doesn’t look like this winter is slowing down like it has in the past, and we’re happy to say we’ll be ringing in the New Year by being super busy! I know your probably thinking that the holiday season isn’t the best time to sell your property, however we have so many buyers looking, now is the opportune time to put your property on the market before the rush in spring. So again, Happy thanksgiving to you and yours and we look forward to hearing from you


Thank you, 
Team Birtola Garmyn High Desert Realty
541-312-9449

Tuesday, November 13, 2012

Rental Property Ownership Manageable



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With interest rates as low as they are these days, many investors are getting in on the action and buying properties to rent out.  In fact, what used to be a market where renters were paying less rent than homeowners were paying in mortgages has now flipped around.  Property owners that are paying a mortgage can demand rent that is at least a few hundred dollars higher, if not more, yielding a sizable “instant” return on investment.

We talked to a property manager to find out where the rental market stands today and why it makes sense to hire a management company as opposed to tackling it all on your own.

What’s Happening in the Rental Market Right Now?
The most notable difference in the rental market recently as opposed to just a few years ago is that we are finally witnessing an improvement in tenants’ ability to support rental living.  With the economy slowly gaining momentum again, rent values are heading slightly up or at least remaining constant.  Some markets that were exhibiting declines in rent values are now seeing rates that rival those from 2008, a much stronger rental period across the board.  Keeping with the positive trend, areas that showed stable rental statistics between 2008 and present will likely experience a bit of an increase or at least remain flat.

Why Would Some Use a Property Management Company?
At a time when the economy seemingly has a long way to go before a complete recovery, many potential or existing owners of rental properties may be reluctant to spend on having their property managed. However, there are several reasons that it makes sense to hire a management company to handle all aspects of the rental business.

First, the process of screening tenants, handling all background checks, leasing units to those with approved applications and assisting with the move-in process is managed by the company.  Promotion of the location, attracting viable tenants that fit the desired demographic profile plus communication and operations – are all things that fall within the parameters of a property management company. 

Also, document maintenance and preparation that comes in handy when it comes times for accounting and taxes is also managed. Depending on the number of units in the property, the amount of paperwork can be staggering.  With someone handling all of these details, it allows the property owner to focus on other things.

By hiring a company to handle all on-the-ground aspects of running the property, the investor is then given a lot of freedom to travel or spend time in another county, state or country while continuously yielding the benefits of rental income and rental property ownership.

Finally, one of the most tedious aspects of rental properties is the need for 24-hour maintenance.  Late-night emergency calls, routine and other maintenance issues, assistance with grounds keeping plus other upkeep tasks are all managed by an experienced, organized staff that is well-versed in managing these aspects of rental units.

~
If owning a rental property sounds good to you, be sure to consult with your Realtor to find the best properties available out there right now.  And of course, by hiring a property management company you can enjoy flexibility and freedom while at the same time be rest assured that your property and tenants are in good hands!

Monday, November 5, 2012

Home Maintenance Does More Than You Think

 

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For some, the phrase “home maintenance” might sound like a great way to spend a weekend, while to others it might seem like a dreaded, even avoided, task. However you view routine home maintenance, the fact of the matter is that this somewhat simple task, if done consistently, can increase your home’s value over time.

Increased Property Value

Benjamin Franklin once said, “An ounce of prevention is worth of a pound of cure.” This is certainly true when it comes to your home. In fact, proactive maintenance is essential to preserving the value of your home. If you ignore this important task, your home could actually lose 10% of its value over time.

There are a number of benefits you can expect from just making sure you home is kept in decent shape with occasional maintenance. For one, your curb appeal is improved by just simple acts of routine upkeep from time to time. Ultimately, your home reflects your attention to detail, or lack thereof.

Neglecting a home can greatly bring down the value of any property. Things like a house with chipped or fading paint, sagging gutters, or worn carpeting leads to a problem when it is time to sell. Not only does the work accumulate over time, so do the costs. A few simple fixes every year can add up to an increased home value over time.

Cost vs. Value

It’s easy to look at the cost of regular home repairs as a burden that might be able to be avoided. However, it is important to look at the value that you are placing in your home by performing the regular costs of upholding a well-built and maintained home.

A study out of the University of Connecticut and Syracuse University suggests that home maintenance can actually increase a home’s value by about 1% each year. Instead of viewing the routine tasks around a home as “chores,” these tasks should be looked at as a money maker. When you sell your home, you will reap their rewards.

Dr. John P. Harding, Professor of Finance and Real Estate at the University of Connecticut’s School of Business and an author of the study said, “It’s like going to the gym. You have to put in the effort to see the results. People and houses are somewhat similar – the older they are, the more work is needed.”

Some years what needs to be down may be more expensive than others, but it is the overall strategy to keep a “fit” home that should be the ultimate goal.

Proactive Maintenance Strategies

Budgeting for home repairs each year will prevent them from seeming like a burden each year. Knowing there will be a certain amount of money going to home repairs and upkeep makes them a regular part of your annual routine. They won’t be a source of financial devastation they can be for many families.

Other things to keep in mind to take the burden out of home maintenance include:

Play offense, not defense. Being proactive is vital in preventing a small problem becoming a mountain of problems. By having a regular inspections and creating a maintenance schedule, you are in control, for the most part, of home expenses, instead of the other way around.

Focus on a room a year. If you home is generally in good order, you may be at a loss of where to start. By targeting a room each year, you can inspect each and every item in that particular room and know where improvements can be made. This prevents an overwhelmed feeling with you looking at your entire house, scratching you head of where to start.

Keep track. Maintain a notebook or computer file to keep track of all of the maintenance and upgrades you perform is important. Also, either keep a physical file of paper receipts or a file on your computer where can put your scanned receipts. This helps you keep track of what you have done and also helps you prove to a potential buyer exactly what you have done to the home. It also shows you are a conscientious homeowner who has paid attention to the details of your home.

Home maintenance is an important task that should not be overlooked. Not only does it maintain a nice home while you live there, it also helps increase your home’s value when you are ready to sell.

For more on home maintenance visit Bob Vila's home maintenance checklist here!

Wednesday, October 17, 2012

Central Oregon Market Is On Its Way Up



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Multiple factors are pointing to an upward trend for the Central Oregon residential real estate market. Both the number of units sold and the average price per unit are increasing. Over the last five to eight months this increase has remained steady. Compared to this time last year the prices in Bend are up almost 11 % and sales are up 16.5% (per Oregon MLS). In August 2012 the median price for residential properties in Bend was $261,000 which is a 29.9% increase from prices in September 2010. When comparing the average price per square foot across all of Central Oregon (Deschutes, Jefferson, and Crook counties) there was an increase. From September 2010 to August 2012 there was a 14.8% increase.
Housing is currently very affordable due to historic lows. While credit requirements have increased there is still plenty of money to loan, buyers are simply required to provide more documentation of credit worthiness. Further signs that demonstrate recovery are the number of traditional sales. There are less foreclosures and more traditional sales in which there is a willing seller and a willing buyer.
Now is an opportune time for sellers as inventory is low. In Central Oregon there was a 27.6% decline in residential units that were listed for sale from September 2010 to August 2012. Bend alone has seen a 33% drop in that same time period. This decrease has resulted in competition amongst buyers. It is not unusual to see a home with four or five offers, nor is it unusual to see a home sell within a couple days of going on the market.
The tight competition has given buyers with cash the upper hand. Approximately a quarter of home sales in Bend were cash sales over the past nine months. When there are multiple offers on a property cash often wins. This is due to the fact that in order for lenders to approve a loan they require an appraisal that ensures the financing is an accurate reflection of the market value of the property. If a buyer has cash an appraisal is not required which can expedite the process.
Combining all of these factors seems to indicate that the Central Oregon real estate market is on a steady uphill path.
   
HOMESELLERS:
What is YOUR home worth?
Find out what your home is worth and what sold on your street right now.

HOMEBUYERS:
Find out what sold in the neighborhoods you are interested buying in.

Market snapshot guarantees the most up-to-the-minute neighborhood property information, detailing MLS active, sold inventory, and days on the market counts. 


Ruben Garmyn & Jim Birtola
Team Birtola - Garmyn, Oregon's #1 Real Estate TeamPrudential High Desert Realty 
Bend, OR
 
Office:  541-312-9449
clientservice@prudentialhighdesertrealty.com
http://www.BendOregonRealEstate.com

Friday, September 28, 2012

Getting to Know Team Birtola Garmyn


Check out this write-up from our friends at Intrepid Forward

And now, a word from Hans and Franz... 


Intrepid Biz of the Week: Team Birtola Garmyn High Desert Realty


Hello little girlieman Facebook-blog readers. This is Hans and Franz. Why are you just sitting there in your little ergonomic chair with the tiny little squeaky wheels instead of working out? Don’t you want to look like us? Of course you do!

You might also be asking yourself, “Why are twin pillars of muscleitude like Hans and Franz taking time to talk to people who are not as much huge as we am?’”

That’s because we want to tell you about two other Awesometonians from the planet Awesometon where we were born. They are the us of the realty world.

“We’re here to pump you up!”


They cannot curl a metric ton of iron (as a warm up) or derail a train with a single pectoral twitch like we can, but they move vast amounts of real estate that make other realtors look like Flabby McFlabmeister—yah! They will market your home or help you find the right home with super space technology they stole from the future, and an unstoppable army of pumped up real estate powerhouses. Team Birtola-Garmyn ranks #1 in Oregon and they have constantly ranked in the Top 3 Prudential Teams in the USA!

But here’s what we think is flextastic: These aren’t pencil-neck desk jockeys who will get a hernia trying to push a SOLD sign into moist playground sand. The Rubenator was a Navy weapons technician and a Serpico-tough cop before turning his sights on Central Oregon real estate. Jim has a black belt in Tae Kwon Do…and he likes marine aquariums and judo-chopping large man-eating sharks into sushi. But just like us, they’re totally friendly and stuff, yah, and they’ve been helping lots of people for the last 20 years.


Look at this tiny little picture. This just demonstrates the awesome humility of the Hans and Franz of real estate—Jim Birtola and Ruben Garmyn. To them, it’s all about the customer. We give them two biceps up!
Visit Team Birtola-Garmyn on Facebook HERE  or we’ll come over and show you what “house flipping” really means, yah?

Written By Kelly Walker at Intrepid Forward